DCG Cables And Wires IPO Subscribed 16.16 times

Tanushree Jaiswal Tanushree Jaiswal 10th April 2024 - 06:27 pm
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DCG Cables & Wires IPO, a fixed price issue of Rs 49.99 crores, comprises an entirely fresh issue of 49.99 lakh shares.

DCG Cables & Wires IPO commenced subscription on April 8, 2024, and concludes today, April 10, 2024. The allotment for DCG Cables & Wires IPO is set to be finalized on Friday, April 12, 2024. DCG Cables & Wires IPO is slated to list on NSE SME, with a tentative listing date scheduled for Tuesday, April 16, 2024.

DCG Cables & Wires IPO ‘s price of shares is fixed at ₹100 per share. The minimum lot size for application stands at 1200 shares, requiring a minimum investment of ₹120,000 for retail investors. HNIs are required to invest in a minimum of 2 lots (2,400 shares), amounting to ₹240,000.

Interactive Financial Services Ltd is the book running lead manager of the DCG Cables & Wires IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for DCG Cables & Wires IPO is Nikunj Stock Brokers.

DCG Cables & Wires IPO Subscription Status

DCG Cables & Wires IPO subscribed 16.16 times. The public issue subscribed 20.24 times in the retail category, [.] times in QIB, and 11.39 times in the NII category by April 10, 2024 5:24:33 PM.

Investor Category

Subscription (times)

Shares Offered

Shares bid for

Total Amount (Rs Cr.)

Market Maker

1

2,52,000

2,52,000

2.52

Non-Institutional Buyers

11.39

23,73,600

2,70,36,000

270.36

Retail Investors

20.24

23,73,600

4,80,43,200

480.43

Total

16.16

47,47,200

7,67,30,400

767.30

Total Application : 40,036

DCG Cables & Wires IPO was oversubscribed by 16.16 times, indicating significant investor interest in the offering.

- The retail category saw the highest subscription rate, with a subscription of 20.24 times, showcasing strong retail investor demand.

- Non-Institutional Buyers (NII) also showed substantial interest, subscribing 11.39 times.

- Market Maker subscription stood at 1 time, indicating modest participation from this category.

- The total number of shares bid for exceeded the shares offered, indicating oversubscription across all investor categories.

- The total amount raised through the IPO was Rs 767.30 crores.

- A total of 40,036 applications were received for the IPO, further reflecting the widespread interest among investors.

Overall, the IPO's robust subscription rates suggest positive market sentiment and confidence in DCG Cables & Wires' prospects.

DCG Cables & Wires IPO Allocation Quota for Various Categories

Investor Category

Shares Allocated in IPO

Market Maker Shares

252,000 shares (5.04% of total issue size)

Other Allocation Portion

2,373,600 shares (47.48% of total issue size)

Retail Shares Offered

2,373,600 shares (47.48% of total issue size)

Total Shares Offered

4,999,200 shares (100.00% of total issue size)

Data Source: NSE

The DCG Cables & Wires IPO offers a total of 4,999,200 equity shares to the public. Among these, 2,373,600 shares are allocated to retail investors, representing 47.48% of the total offering.

Additionally, the same number of shares, 2,373,600, is available to other investors, which include high net worth individuals (HNIs), corporates, and institutions. Market makers are allocated 252,000 shares, constituting 5.04% of the total offering.

Overall, the IPO aims to raise Rs 49.99 crores, with each category contributing proportionally to the total amount raised.

DCG Cables & Wires IPO Subscription Details (times)

Date

NII

Retail

Total

Day 1
Apr 8, 2024

0.38

2.92

1.65

Day 2
Apr 9, 2024

2.25

6.11

4.18

Day 3
Apr 10, 2024

11.39

20.24

16.16

The Key Takeaways are:

Day 1 (Apr 8, 2024): Strong retail interest with moderate NII participation; overall subscription at 1.65 times.

Day 2 (Apr 9, 2024): Growing NII interest alongside robust retail demand; overall subscription reaches 4.18 times.

Day 3 (Apr 10, 2024): Significant surge in NII participation; retail demand remains high; overall subscription peaks at 16.16 times.

 

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